SEC’s Texting Crackdown Rages On, With RIAs Likely Next

March 18, 2024 by Jamie Johnson

Fines levied by the Securities and Exchange Commission related to off-channel communications like text messages will continue — with fines against investment advisory firms likely on their way, according to two former SEC attorneys.

Off-channel communications is a “continuing hot topic,” Dabney O’Riordan, a partner in Quinn Emanuel’s SEC Enforcement practice, who previously served as the leader of the SEC Enforcement Division’s Asset Management Unit, said at the recent Investment Adviser Association’s annual compliance conference. “We’re expecting to continue to see more.”

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Originally Posted at Think Advisor on March 18, 2024.